2023-04-26-深交所-特_力Ｂ_2022年年度报告（英文版）_266页_2mb

Summary of Shenzhen Tellus Holding Co., Ltd. 2022 Annual Report

Core Content Overview

This document is the 2022 Annual Report of Shenzhen Tellus Holding Co., Ltd., published in April 2023. It provides a comprehensive overview of the company’s financial performance, corporate governance, industry development, and business operations during the reporting period.

Key Information

Company Information

• Stock Abbreviation: Tellus A and Tellus B
• Stock Code: 000025 and 200025
• Listing Exchange: Shenzhen Stock Exchange
• Full Chinese Name: Shenzhen Tellus Holding Co., Ltd.
• Legal Representative: Fu Chunlong
• Registered Address: 3F, Tellus Building, No. 56, 2nd Shuibei Road, Luohu District, Shenzhen
• Postal Code: 518020
• Office Address: Same as registered address
• Website: www.tellus.cn
• Email: ir@tellus.cn

Contact Information

• Board Secretary: Qi Peng
• Securities Representative: Liu Mengei
• Board Secretary Contact: (0755) 83989390
• Securities Representative Contact: (0755) 88394183

Accounting and Audit Information

• Accounting Firm: RSM China (Special General Partnership)
• Accounting Firm Address: Rooms 901-22 to 901-26, Foreign Trade Building, Block 1, No. 22 Fuchengmenwai Street, Xicheng District, Beijing
• Signing Accountants: Chen Lianwu, Qin Changming

Financial Highlights

Major Financial Indicators (2022 vs. 2021 vs. 2020)

Quarterly Financial Performance (RMB)

Main Business and Operations

Main Businesses

1. Jewelry Service Business:

   • The bonded platform operated by Shenzhen Jewelry Company held 16 exhibitions and processed RMB 2.1 billion in bonded inbound and outbound goods.
   • Established Guorun Gold subsidiary in June 2022 to promote gold circulation, digitalization, and standardization of gold spot transactions.
   • Expanded the application of safe boxes in the jewelry industry and explored diamond-related business models.

2. Commercial Operation Management:

   • Improved the management and operation of property assets, including the Tellus Jewelry Building.
   • Increased the occupancy rate of island counters to 95%.
   • Enhanced the quality of tenants and improved the image of basement 1 stores.
   • Advanced the construction of the Tellus Jinzuan Building and optimized tenant business structure, leading to a significant increase in annual rent.

3. Automobile Sales, Inspection, Maintenance, and Spare Parts Sales:

   • Sold 1,057 vehicles throughout the year.
   • Focused on customer experience and improved customer stickiness in maintenance services.

Industry Development Analysis

Jewelry-Related Industry

• The gold jewelry industry is divided into three segments: upstream (mining), midstream (smelting/design), and downstream (wholesale and retail).
• In 2022, the market scale of China’s jewelry industry was approximately RMB 719 billion, similar to the previous year.
• Gold products accounted for about RMB 410 billion, representing 57.02% of the market, showing a dominant position.
• The gold ornaments market saw a recovery in consumption, with actual gold consumption in 2022 at 1,001.74 tons, a decrease of 10.63% compared to 2021 due to high gold prices.
• Young consumers are driving the trend of individuation and diversification in gold jewelry consumption.
• The company focuses on digitalization, standardization, and brand differentiation to build a third-party service platform and explore new markets.

Commercial Real Estate Leasing Industry

• The industry faced challenges due to economic disturbances and offline consumption restrictions, leading to increased vacancy rates and rent declines.
• According to JLL, the new supply area of prime retail decreased by 32.5% year-on-year, and the average first-floor rent in major cities dropped by 2.9%.

Automobile Service Industry

• The automobile market experienced growth, with production and sales volumes reaching 27.021 million and 26.864 million respectively, up 3.4% and 2.1% year-on-year.
• New energy vehicles saw steady growth, with production and sales of 7.058 million and 6.887 million, up 96.9% and 93.4% respectively.
• Automobile ownership increased rapidly, reaching 417 million in 2022, with new energy vehicles accounting for 13.1 million (4.10% of total automobile ownership).
• The company benefits from the growth in automobile demand, focusing on sales, maintenance, and spare parts.

Shareholder and Governance Information

• The controlling shareholder is SDG Group, which held 49.09% of the total share capital at the end of 2022.
• Shenzhen SASAC entrusted 38.97% of voting rights to its subsidiary SIHC, changing the indirect controlling shareholder from SASAC to SIHC.
• The Board of Directors and Board of Supervisors confirmed the accuracy and completeness of the report.
• The Company's profit distribution plan for 2022 includes a RMB 0.28 per 10 shares cash dividend, no bonus shares, and no transfer of capital reserve to equity.

Non-Recurring Profit or Loss

• The company reported non-recurring profit or loss items, with a total of RMB 20,227,333.09 in 2022.
• Non-recurring profit or loss includes:
  • Disposal of non-current assets: RMB 8,826,176.39
  • Government subsidies: RMB 6,575,043.88
  • Investment income from financial products: RMB 10,762,831.81
  • Other non-recurring items: RMB 49,829.40
• The company does not define any non-recurring profit or loss as recurring during the reporting period.

Conclusion

The 2022 Annual Report highlights the company's focus on jewelry service, commercial operation management, and automobile services, amidst challenging macroeconomic conditions and industry-specific pressures. While the net profit declined significantly, the operating revenue increased by 64.72%, indicating growth in core business activities. The company's strategic initiatives, including digitalization, brand differentiation, and expansion into new markets, reflect its efforts to adapt to a complex economic environment. The ownership structure and governance were also updated, with changes in the controlling shareholder through a voting rights entrustment agreement.